Tech funding doubles in Minnesota from 2010 to 2011

by Zach Robins


Money TreeIf ever there was a sign of a hot market, this is it.

The latest figures gathered by TECHdotMN show that the volume of dollars invested into Minnesota tech ventures doubled year over year, from $60m in 2010 to over $126m in 2011, respectively.

This data includes IT, Web, Mobile, SaaS and hardware companies reporting investment rounds in excess of $25,000 and does not account for unreported or undisclosed transactions.

Notable deals of the year include Ability Network’s $27m round, Cima NanoTech’s $15m D round, 8thBridge’s $10m series B, RedBrick Health’s $5.7m raise, and TST Media’s $3.5m Series B. All in all, 63 unique companies raised capital throughout 2011.